HONG KONG, May 27 (Reuters) - The controling shareholder in China's Xinyi Glass Holdings Co Ltd <0868.HK> is selling $126.4 million worth of shares at a 7.6 percent discount to its last closing price.
Full Guang Holdings, which had initially planned to sell up to $111.3 million worth of shares in Xinyi Glass, said in a term sheet seen on Wednesday that it was selling 170 million shares, of which 90 million shares were new shares, at the lower end of an indicative range at HK$5.80 per share.
It increased the number of existing shares it planned to sell to 80 million shares from 50 million.
The deal was being handled by Citigroup <C.N> and China International Capital Corp (CICC). The company's shares rose 2.11 percent to close at HK$6.28 on Tuesday.Blogged with the Flock Browser
